Commodities
QatarEnergy Rules Out Hormuz Pipeline Bypass
QatarEnergy has confirmed that it will not bypass the Strait of Hormuz using pipelines to transport liquefied natural gas (LNG) exports. The decision leaves the recovery of Qatar's LNG exports dependent on the waterway reopening after repairs, which are expected to take three years.
The announcement is a significant development in the global energy market, where prices have been affected by tensions in the Middle East. Goldman Sachs had previously predicted that European and Asian gas prices would rise sharply if Persian Gulf LNG exports fail to recover.